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Money Interest And Prices
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Book Synopsis Money, Interest, and Prices by : Don Patinkin
Download or read book Money, Interest, and Prices written by Don Patinkin and published by MIT Press (MA). This book was released on 1989 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: A quarter of a century after the publication of the second edition, this classic work continues to be on the reading list of graduate courses in macroeconomics. Integrating monetary theory and value theory, "Money, Interest, and Prices "describes the demand functions for commodities and bonds (emphasizing the real balance effect) and uses these functions to carry out a static and dynamic analysis of the central problems of monetary theory - the effects of changes in the quantity of money and shifts in liquidity preference on interest, prices, and employment.This reprinted edition omits the supplementary notes on the literature and contains a new introduction indicating the ways that Patinkin has revised or augmented its analysis. The author discusses issues that have arisen around his disequilibrium approach to macroeconomics as well as his use of the money-in-the-utility function approach to the demand for money. Patinkin explains why he rejects the alternative overlapping generations and cash in advance approaches to this demand and briefly indicates how the books analysis can be extended to an open economy and to an economy with growth and refers the reader to more extensive treatments of the topics dealt with.Don Patinkin is Professor of Economics at Hebrew University in Jerusalem.
Book Synopsis Interest and Prices by : Michael Woodford
Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Book Synopsis The General Theory of Employment, Interest, and Money by : John Maynard Keynes
Download or read book The General Theory of Employment, Interest, and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Book Synopsis Interest and Prices by : Knut Wicksell
Download or read book Interest and Prices written by Knut Wicksell and published by Ludwig von Mises Institute. This book was released on 1936 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Trends in the United States and the United Kingdom by : Milton Friedman
Download or read book Monetary Trends in the United States and the United Kingdom written by Milton Friedman and published by University of Chicago Press. This book was released on 2011-03-15 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: The special task of this book is to present a statistical and theoretical analysis of the relation between the quantity of money and other key economic magnitudes over periods longer than those dominated by cyclical fluctuations-hence the term trends in the title. This book is not restricted to the United States but includes comparable data for the United Kingdom.
Book Synopsis Money, Interest and Prices by : Charles Michael Bromiley Pare
Download or read book Money, Interest and Prices written by Charles Michael Bromiley Pare and published by . This book was released on 1965 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Purchasing Power of Money by : Irving Fisher
Download or read book The Purchasing Power of Money written by Irving Fisher and published by . This book was released on 1911 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Fiscal Theory of the Price Level by : John H. Cochrane
Download or read book The Fiscal Theory of the Price Level written by John H. Cochrane and published by Princeton University Press. This book was released on 2023-01-17 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don’t expect the government to fully repay its debts. The fiscal theory is well suited to today’s economy: Financial innovation undermines money demand, and central banks don’t control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.
Book Synopsis Money, Interest Rates, and Inflation by : Frederic S. Mishkin
Download or read book Money, Interest Rates, and Inflation written by Frederic S. Mishkin and published by Edward Elgar Publishing. This book was released on 1993 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frederick Mishkin's work has been dedicated to understanding the relationship between money, interest rates and inflation. The 15 essays in this collection - unabashedly empirical and rigorous - include much of Professor Mishkin's most highly regarded work. Money, Interst Rates and Inflation offers a coherent and informative assessment of how monetary policy affects the economy. In addition, the essays in this collection illustrate how rational expectations econometrics can be used to answer basic questions in the monetary-macroeconomics and finance areas.
Book Synopsis Interest and Inflation Free Money: Creating an Exchange Medium That Works for Everybody and Protects the Earth by : Margrit Kennedy
Download or read book Interest and Inflation Free Money: Creating an Exchange Medium That Works for Everybody and Protects the Earth written by Margrit Kennedy and published by Stranger Journalism. This book was released on 1995 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher: Inbook; Rev Sub edition (March 1995)Language: EnglishISBN-10: 0964302500ISBN-13: 978-0964302501
Book Synopsis Understanding Modern Money by : L. Randall Wray
Download or read book Understanding Modern Money written by L. Randall Wray and published by Edward Elgar Publishing. This book was released on 1998 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: By showing that the basic assumptions if mainstream macroeconomics were and are flawed, the author aims to convince the reader that full employment and price stability are fully compatible goals in the modern world.
Book Synopsis The Price of Time by : Edward Chancellor
Download or read book The Price of Time written by Edward Chancellor and published by Grove Press. This book was released on 2022-08-16 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and profoundly relevant history of interest from one of the world’s leading financial writers, The Price of Time explains our current global financial position and how we got here In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. The practice wasn’t always popular—in the ancient world, usury was generally viewed as exploitative, a potential path to debt bondage and slavery. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk. All economic and financial activities take place across time. Interest is often described as the “price of money,” but it is better called the “price of time:” time is scarce, time has value, interest is the time value of money. Over the first two decades of the twenty-first century, interest rates have sunk lower than ever before. Easy money after the global financial crisis in 2007/2008 has produced several ill effects, including the appearance of multiple asset price bubbles, a reduction in productivity growth, discouraging savings and exacerbating inequality, and forcing yield starved investors to take on excessive risk. The financial world now finds itself caught between a rock and a hard place, and Edward Chancellor is here to tell us why. In this enriching volume, Chancellor explores the history of interest and its essential function in determining how capital is allocated and priced.
Book Synopsis Money, Interest, and Prices by : Don Patinkin
Download or read book Money, Interest, and Prices written by Don Patinkin and published by . This book was released on 1965 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interest and Prices by : Knut Wicksell
Download or read book Interest and Prices written by Knut Wicksell and published by Read Books Ltd. This book was released on 2011-03-23 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This antiquarian volume contains a fascinating treatise on interest-rates and prices in the late nineteenth century. Containing a wealth of interesting historic information on the state of the economy at this pivotal point in history, this is a text that will be of much value to those with an interest in the history and development of the modern economy, and is not to be missed by collectors of such literature. The chapters of this book include: 'Purchasing Power of Money and Average Prices', 'Relative Prices and Money Prices', 'The So-Called Cost of Production Theory of Money', 'The Quantity Theory and its Opponents', 'The Velocity of Circulation of Money', 'The Rate of Interest as Regulator of Commodity Prices', etcetera. This antiquarian book is being republished now in an affordable, modern edition complete with a new prefatory biography of the author. 'Interest and Prices' was first published in 1898.
Book Synopsis Monetary Theory and Thought by : Haim Barkai
Download or read book Monetary Theory and Thought written by Haim Barkai and published by Palgrave Macmillan. This book was released on 1993-05-17 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Don Patinkin's pioneering work, integrating monetary and value theory in a Walrasian general equilibrium context anticipated by almost two decades the line of research which attempts to recast macroeconomics by reference to its microeconomic foundations. The notion of an integrated set of markets offered intuitive perception of intermarket linkages. At the same time it highlighted some of the pitfalls of traditional neoclassical monetary analysis, such as the erroneous imputation of unitary elasticity to the demand curve for money. Patinkin's presentation of general equilibrium illuminated the difficulty in upholding the Keynesian notion of underemployment equilibrium. His insightful efforts to understand behaviour in labour markets in disequilibrium led him to provide the first well worked out example of the powerful implications of disequilibrium and thereby to lay the foundations for the disequilibrium analysis of the 1970s.
Book Synopsis Money, Prices and the Real Economy by : Geoffrey Wood
Download or read book Money, Prices and the Real Economy written by Geoffrey Wood and published by Edward Elgar Publishing. This book was released on with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets out, in straightforward, accessible terms, crucial aspects of monetary economics. It opens with an exposition of the fundamental question of what money is and what it does. Distinguished contributors then examine the key role of price stability and how to achieve it. Core issues addressed include: an examination of the long run effect of money on prices an analysis of the complex and variable relationship between money and fluctuations in the real economy an investigation of inflation and its dangerous consequences an analysis of the effect of regulation on the stability of financial systems in developed and developing countries the relationship between the money supply regime and economic performance the effect of monetary fluctuations on the interest rate the choice of targets for monetary policy. This book will be extremely useful to practising economists, students and scholars of financial and monetary economics.
Book Synopsis Monetary Policy, Inflation, and the Business Cycle by : Jordi Galí
Download or read book Monetary Policy, Inflation, and the Business Cycle written by Jordi Galí and published by Princeton University Press. This book was released on 2015-06-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
